"If you're going to panic, do it fast and beat the crowd." ~ Jesse Livermore

Tuesday, August 16, 2011

Crunch Sarkozy Merkel meeting on euro financial crisis


Crunch Sarkozy Merkel meeting on euro financial crisis
Investment International
French President Nicolas Sarkozy and German Chancellor Angela Merkel will hold a crucial meeting tomorrow (Tuesday 16 August) to discuss how to make the euro zone work more effectively amid persistent doubts in financial markets over Europe's ability ...
UNASUR Bloc Creates Three Task Groups To Tackle Global Financial Crisis
Bernama
Proposals include expanding a special Latin American reserve fund - FLAR - investing reserves in projects that will lead to increased commerce within the region, trading in a basket of local currencies rather than the dollar or Euro and other ways of ...
DAVID MARSH: Financial crisis
Business Day
The international financial crisis in 2007- 09 changed all that. This has led to the dramatic reversal of the financial markets' initially benevolent treatment of the fringe euro members, and in particular to the need for huge official bail-out ...
Slovakia Should Vote Down New Powers For Euro Area Bailout Fund - Lawmaker
Wall Street Journal
The euro zone must get harsh on insolvent members to stop the risk of fiscal-crisis contagion, Kollar said. "We have to build a firewall between those members that have mere liquidity problems such as Italy or Spain, and those which are insolvent like ...
newMPs to mull global financial crisis
CBC.ca
Liberal finance critic Scott Brison says the committee needs to give Canadians, including investors, information about the global financial crisis. Brison says they should hear from top economists and department of finance officials about where they...
Gold Likely to Hit New Highs This Year
International Business Times
The metal has been one of the few beneficiaries of the global financial crisis, with its prices witnessing an increase of 175 percent since August 2007. “Gold has rallied since the beginning of the financial crisis, in large part because as a hard ...
Central bank and the UK finding their feet in the current financial crisis ...
The Periscope Post
Photo credit: Paul Toeman In the UK's case, it was policy, along with other member states, to remain outside the euro. The two economic divisions of the EU have chosen their individual paths and should follow them as well as they can. ...
Mexico's Peso Closes Stronger Against Dollar On Risk Return
Wall Street Journal
The peso saw wide swings the previous week, with volatility not seen since the global financial crisis of 2008, when the Bank of Mexico began selling dollars to alleviate a liquidity squeeze. This time, however, central bank chief Agustin Carstens said ...
Debt Crisis Could Be Turning Point for US-China
CNBC.com
"If the shift in power does happen, the financial crisis has been a demarcation event," Todd Lee, director of global economics at IHS Global Insight, told CNBC.com. China's US Treasury holdings are the cornerstone for a lot of conspiracy theories about ...
Euro faces another sentiment-setting week
Financial Times
The single currency has pretty much held its own against most bar the uber haven of the Swiss franc during the recent turmoil, which was partly triggered by the fiscalcontagion rumour mill infecting France. While equities have been up and down like a...
Does Michael Lewis think the German banks were very dirty or much too clean?
Washington Post (blog)
(Michele Tantussi) Neither Kevin Drum nor Felix Salmon are particularly impressed with Michael Lewis's scatological explanation of Germany's role in the financial crisis. I would go a bit further than they have: This is a peculiar case in which an ...
European Union Debt Crisis Stings France, Putting US Banks at Risk
Money Morning
Not only that, but many US banks have indirect exposure to Europe's sovereign debt via creditdefault swaps - an insurance derivative that contributed significantly to the 2008 financial crisis - they bought on the large European banks that hold ...
Forex Flash: Sentiment toward PIIGS to remain cautious - Danske Bank
NASDAQ
"While the ECB's intervention has reduced the near-term uncertainty about the ability of Spain and Italy to fund themselves in bond markets, several question marks remain over the long-term solution for the "PIIGS" countries. ...
Notations which may cause profound movements in the EUR/USD
FXstreet.com
If the AAA rating of France is threatened, the Euro may lose abundant amount of value. Furthermore, the EFSF – a program to stop contagion fears in the Euro-zone – may lose its AAA as well, in the process hiking the borrowing cost for troubled nations ...
Gold soaring to “Much Higher Highs,” says Swiss's Felix Zulauf
Beacon Equity Research
If Germany's resolve to step in to bailout the eurozone periphery of Portugal, Ireland, Italy and Spain (PIIGS) falters, “all hell could break loose in the [euro] next couple of weeks or months,” Felix Zulauf told Financial Sense Newshour over the ...
El-Erian, World Bank, Ministers Warn Euro, US Leaders
AdvisorOne
By Gil Weinreich, AdvisorOne A growing chorus of financial eminences is calling on world leaders to gain control of a spreading financial crisis one day ahead of a Franco-German meeting that could test whether the political will exists to do so. ...
Iceland is making a glacial recovery after the devastating 2008 financial ...
The Lawyer
Few discussions on Iceland can dodge the country's financial crisis of 2008. The collapse of the three big commercial banks - Glitnir, Kaupthing and Landsbanki - continues to occupy column inches. But according to Iceland's law firms, there are signs ...
US Stocks Close Higher, Led by Financial and Energy Shares
New York Times
The rally of more than 2 percent in the broader market on Monday followed one of the most tumultuous weeks ever on Wall Street, in which worries about the United States economy and the threat of a financial crisis in Europe overwhelmed traders, ...
Market Bears Acting Like It's 2008
Seeking Alpha
It seems that in just two weeks sentiment has become more or less as bearish as it was at the height of the Global Financial Crisis at the end of 2008. Is this justified? Are we staring down the barrel of the 2nd GFC? I don't think so. ...
Gold Standard: Forty Years Gone — And Good Riddance
Wall Street Journal (blog)
A speculative attack or financial crisis often seemed necessary to provide a sufficient spur. In addition to the unintended rigidity, Bretton Woods was also vulnerable because only the US dollarwas required to be convertible to gold. ..
Global stocks recover as calm descends, Google's big deal
Economic Times
``Some stability appears to be returning to markets .... but businesses remain wary that the US government isn't doing enough to arrest its massive budget deficit and that European governments aren't doing enough to avert financial contagion from ...
Roubini on fate of capitalism: Karl Marx was 'partly right'
Globe and Mail
Nouriel Roubini, the man who forecast the financial crisis, strikes at the very heart of America today with an article that questions the fate of capitalism. Mr. Roubini, the New York University professor and chairman and co-founder of Roubini Global ...
Walid Khadduri: The role of oil-producing countries in the new economic order
Al-Arabiya
By Walid Khadduri The second global financial crisis in the course of five years is proving to be a historic turning point. Not only is it much more dangerous than the 2008 crisis, which started with the subprime mortgage crisis in the United States. ...
EMERGING MARKETS-Latam currencies gain on easing growth outlook
Reuters
"In the last few days we've seen the probability of a world financial crisis decline and that's animated the markets," Rosa said. "There's been an alteration in the world view, and while we can't be sure if it will hold, this is helping prices. ...
The Real U.S. Crisis Is Not a Debt Downgrade: Simon Johnson
Bloomberg
By Simon Johnson Mon Aug 15 00:00:10 GMT 2011 Comments The US has a fiscal crisis, but not the one that everyone is talking about. Standard and Poor's proved beyond a reasonable doubt that the US still has the world's preeminent reserve currency. ..
China yuan's rise signals new policy
Channel News Asia
... fixing the dollar/yuan parity rate at 6.3950 against the dollar. The move came after allowing the yuan last week to climb at its fastest weekly pace since the global financial crisis. A stronger yuan is starting to make sense for China. ...
Swiss Stocks Continue Rebound
RTT News
The rebound has occurred amid hope that officials will be able to head off the European financial crisis that has been threatened recently. There was talk Monday that a euro bond could be introduced and traders were looking ahead to a meeting between ..
Geithner, Bernanke have little in arsenal to fight new crisis
Washington Post
By Zachary A. Goldfarb and Neil Irwin, Barely two years after the financial crisis ended, Treasury Secretary Timothy F. Geithner and Federal Reserve Chairman Ben S. Bernanke were back at it about a week ago. They were working the weekend phones with .
The Future of Europe
Institute for Ethics and Emerging Technologies
But here too, the current financial crisis may hold the key. The current arrangements are the result of tortuous peacetime negotiations in which national interests are defended to a sometimes absurd degree. Public interest in such matters is close to ...
How Much Is Obama Really to Blame for the Economy?
The Atlantic
"The sovereign debt woes in Europe are prototypical of a financial crisis of this size," he said. The only difference this time is that the new fact of the eurozone might have made things worse, Rogoff added, because it prevented individually troubled ..
Have Stock ETFs Put the Fear Behind Them?
ETF Trends
Investors are worried that the stock correction the past two weeks is similar to the fall of 2008, when a financial crisis and equities pullback presaged an economic contraction and further weakness in stocks. David Kelly, chief market strategist at JP ...
Fed Says Banks Ease Lending Standards in Face of 'Aggressive Competition'
Bloomberg
... trillion on June 30, according to the quarterly report on household debt and credit released by the district bank. Households have cut debt by $1.08 trillion, or 8.6 percent, from its peak in the third quarter of 2008 as the financial crisis escalated.
Fed Says Household Debt Fell by $50 Billion in Second Quarter
Bloomberg
Households have cut debt by $1.08 trillion, or 8.6 percent, from its peak in the third quarter of 2008 as the financial crisis escalated. The Federal Open Market Committee said on Aug. 9 that “recent weakness in economic activity” stems in part from ...
Buffett and Schultz weigh into deficit debate
Financial Times
... debate on the US deficit, with Warren Buffett, the billionaire investor, urging tax increases for the rich and Howard Schultz of Starbucks telling fellow chief executives not to donate to political campaigns until Congress solves the fiscal crisis.
Emotions Took Control of Last Week's Volatile Market
Investorplace.com
They of course don't compare with the swings in 2008 during the height of the financial crisis, and the current situation is nothing close — this is not a financial crisis, but a crisis of confidence in our political leadership, in the state of our ...
The Left's Crisis
Socialist Project
A common response of the left to the financial crisis that broke out in the USA in 2007-08 was often a kind of Michael Moore-type populist one: Why are you bailing the banks out? Let them go under. This kind of the response was, of course, ...
Start-up rating agencies urge national regulators to promote competition, change
Reuters Blogs (blog)
Meredith Whitney, the former Oppenheimer analyst credited with raising the alarm prior to the global financial crisis, is understood to be applying for NRSRO status through her firm Meredith Whitney Advisory. Another relative newcomer is Rapid Ratings, ..
Are Computers Bringing Down The Stock Market?
Forbes
Some people blame the Obama Administration while others like CNBC's Jim Cramer say that the European banks are in the midst of their own 2008 and that is causing financial contagionworldwide. The blame doesn't stop there. Others are coming back to the ...

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